AT&T director buys over $1M worth of shares

|About: AT&T Inc. (T)|By:, SA News Editor

AT&T (NYSE:T) director and Burlington Northern Santa Fe CEO Matthew K. Rose discloses he bought 30K shares on Thursday for $34.65 apiece, or a total cost of $1.04M.

Rose's vote of confidence follows the July purchase of 1K shares by director/KeyCorp CEO Beth E. Mooney, and 10K shares by director/ex-Alltel CEO Scott. T. Ford.

AT&T is currently in the middle of a fairly narrow 52-week range. Shares have underperformed the S&P 500 by a large margin over the last 18 months amid concerns about tough wireless competition/price pressure. The dividend yield stands at 5.3%.